Someone tell me why I shouldn't buy an investment property. I have 40k to put down on a 100k-120k townhouse or condo.I have 0 debt and my salary is 60k. I can probably rent it out for between $1000-$1300 dollars a month based on rental properties near it.I plan on using the rent plus any leftover monthly income to pay off the mortgage as quickly as possible, then possibly selling the first house and buying something nicer to rent out and possibly live in at a later date or stacking money to buy another similar townhouse.Tell me what could go wrong besides home prices collapsing and I'm stuck with an overpriced house I don't want to live in.

We have this thread almost every day. This is a viable business plan, you just need to make sure the renters aren't pieces of shit. you will need to give interviews and hopefully get them to sign a contract/agreement. The biggest problem with this is the renters destroying the home or using it for illegal activity. As long as they aren't pieces of shit, this will work out.

>>1738111Interest rates are super low, and putting that money you would've paid towards principal in blue chips stocks will get you a better return. Hell, putting it into another down payment for a house will get you better returns.

>>1738111You don't pay interest your renter does. The money you are paying to the bank can be put to work for you and make you even more money. Then use your equity in the property to mortgage another property.

If such basic information is new to you, you should not purchase a property. You should read and study.

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